No.58 Bankocracy

by Eric Toussaint

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Banks are at the heart of contemporary capitalism – they are key to financial markets, generate the bulk of financial profits, and have enormous influence on policy making. Eric Toussaint offers us a wide-ranging, informative and sharp outline of their role. And as one would expect from the author, the analysis is politically committed, while also suggesting concrete measures to deal with the power of banks. – Costas Lapavitsas, former MP for Syriza and Professor at SOAS, University of London.

Eric Toussaint provides a comprehensive analysis of the deregulation of the banking system and finance before and after the Great Recession, and of the effects of the “Bankocracy” on the lives of people. He skilfully presents the complex mechanisms and instruments the financial sector has developed. He does so in a language which is accessible to anyone interested in understanding the current crisis and the role of the financial industry. – Özlem Onaran, Professor at the University of Greenwich.